Rupee climbs 2 paise against dollar in early trade
The Indian rupee gained nearly 2 paise against the US dollar in early trade on Thursday after opening on a flat note at 66.72. Some selling of the greenback by banks and importers supported the local currency. At 9.13 am, the rupee was trading 1 paise higher at 66.71 against the US dollar.
Meanwhile, domestic equity markets opened on a cautious note tracking mixed global cues. The 30-share index opened 9.16 points higher at 27,527, while the 50-share Nifty50 index opened 18.15 points down at 8,499.
On Wednesday, the domestic currency managed to recover from the early losses and ended steady at 66.72 against the greenback even as speculation around the US poll outcome and Fed policy review kept investors on the edge.
The pound sterling rose to a three-week high on Wednesday against the dollar after the US currency was hurt by signs that Donald Trump was closing the gap with Hillary Clinton in the race for the White House. The dollar index was broadly showing strength against a basket of currencies and hit a three-week low of 97.386.
The Chinese yuan headed for its biggest three-day gain in two months as the dollar weakened amid growing market volatility ahead of next week’s US presidential election. The Swiss franc and the Japanese yen climbed on Wednesday as investors sought out safe havens for their money amid worries over the prospect of a Trump victory in US election .